Asked by Mr. Nino Tuazon
Greetings
I am PR that owns a Freehold Property. My wife and son are not PR and holding LTSVP.
Now my question is that if I am going to give up my PR status and decided my condo to be rent out, what are the implications that I need to take note?
I know that the property tax will go higher and the rental gained will be considered as Income Tax. Aside from these 2 things what else should I be considering in giving up my PR status?
Just to add-on, reason for this is that me and my family are migrating soon and I want keep my property as investment (rental purposes)
Appreciate any feedback
Kind Regards,
Nino
I am PR that owns a Freehold Property. My wife and son are not PR and holding LTSVP.
Now my question is that if I am going to give up my PR status and decided my condo to be rent out, what are the implications that I need to take note?
I know that the property tax will go higher and the rental gained will be considered as Income Tax. Aside from these 2 things what else should I be considering in giving up my PR status?
Just to add-on, reason for this is that me and my family are migrating soon and I want keep my property as investment (rental purposes)
Appreciate any feedback
Kind Regards,
Nino
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